WATERLOO, ON - BlackBerry (NYSE:BB) Limited (NYSE: BB; TSX: BB) has announced the launch of its updated CylanceMDR™ service, which now includes three new Managed Detection & Response (MDR) packages. This expansion is aimed at providing businesses with a range of cybersecurity solutions tailored to their specific needs. The service integrates BlackBerry's Cylance® AI technology and a team of security analysts for round-the-clock threat monitoring and response.
The new packages, named Standard, Advanced, and On-Demand, are designed to offer varying levels of protection and support. The Advanced package notably comes with a $1 million guarantee to cover security incident costs for qualifying customers. Nathan Jenniges, SVP and General Manager at BlackBerry Cybersecurity, emphasized that the combination of technical excellence and human expertise is central to their approach in offering superior support to organizations of any size.
CylanceMDR services include onboarding, alert triage, managed threat hunting, and comprehensive incident response, among other features. The On-Demand package is specifically tailored for customers with established security teams that require additional support for in-depth investigation and response capabilities.
Independent testing has shown that the Cylance AI threat detection is significantly faster and more effective, reportedly acting up to 13 times faster and preventing 98 percent of attacks earlier in the threat cycle. This efficiency, coupled with the reduced strain on IT resources, positions CylanceMDR as a cost-effective alternative to developing an in-house security operations center (SOC).
Craig Robinson, Research Vice President at IDC, highlighted the growing popularity of MDR solutions in addressing the increasing costs of data breaches and the cybersecurity skills gap. The right mix of expertise and technology can substantially mitigate the constraints affecting defensive strategies.
BlackBerry's confidence in its product is further underscored by Jenniges' statement on the $1 million guarantee for eligible CylanceMDR Advanced customers, aiming to provide ultimate peace of mind.
The announcement is based on a press release statement from BlackBerry Limited, a company known for its intelligent security software and services, including cybersecurity, safety, and data privacy solutions. For additional details on CylanceMDR, BlackBerry directs interested parties to its website.
InvestingPro Insights
As BlackBerry Limited (NYSE: BB) continues to innovate in the cybersecurity space with its enhanced CylanceMDR services, investors and stakeholders are keenly observing the company's financial health and market position. Here are some insights based on real-time data from InvestingPro and InvestingPro Tips that may help in assessing BlackBerry's current situation:
BlackBerry's market capitalization stands at $1.67 billion, and while the company has been showing robust revenue growth of 30.03% over the last twelve months as of Q4 2024, analysts have concerns about the profitability in the near term. They do not anticipate the company will be profitable this year, and five analysts have revised their earnings downwards for the upcoming period. This could suggest that the costs of expanding and enhancing services such as CylanceMDR might be impacting the bottom line more than expected.
InvestingPro data also reveals that BlackBerry is trading at a high EBITDA valuation multiple, indicating that the market may have high expectations for the company's future earnings potential. Despite a notable gross profit margin of 60.96%, the company's operating income has been adjusted to a negative $35 million. This could reflect the investments BlackBerry is making in its product offerings and may be a point of consideration for investors who are focused on current profitability.
Furthermore, the InvestingPro Tips highlight that BlackBerry operates with a moderate level of debt and does not pay a dividend to shareholders, which could influence investment decisions for those seeking regular income from their investments. Additionally, the company is not profitable over the last twelve months, emphasizing the importance of its growth and future profitability prospects.
For readers interested in a deeper analysis, there are additional InvestingPro Tips available on BlackBerry, which could provide further insights into the company's financials and market expectations. To explore these tips and more detailed analytics, visit https://www.investing.com/pro/BB and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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